BMO Managed Portfolio Trust – Growth Portfolio and Income Portfolio perform well in changing market conditions

by | Jan 25, 2022

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BMO Managed Portfolio Trust PLC today announces its unaudited interim results for the six-month period to 30 November 2021.

Financial highlights 

Income shares

  • Dividend yield of 4.3% at 30 November 2021, compared to the yield on the FTSE All-Share Index of 3.2%
  • Net asset value total return per Income share of 1.7% for the six months, underperforming the FTSE All-Share Index total return of 1.9% by -0.2%

Growth shares

  • Net asset value total return per Growth share of 5.0% for the six months, outperforming the FTSE All-Share Index total return of 1.9% by 3.1%
  • The net asset value per Growth share has increased by 214.0% over 10 years, the equivalent of 12.1% compound per year. This has outperformed the FTSE All-Share Index total return of 103.0%, the equivalent of 7.3% compound per year

Portfolio highlights

Income shares

  • The best performing holding in the period was NB Private Equity Partners, with the share price rising 33%
  • The next best performer with a 14% share price rise was 3i Infrastructure

Growth shares

  • Investment companies with exposure to the technology sector were leading performers, with Allianz Technology Trust gaining 30%, closely followed by HgCapital Trust which rose 27%
  • Third best performer was Scottish Mortgage Investment Trust, which saw a 25% rise driven by technology and healthcare holdings

(all share prices are total return)

Chairman David Warnock commented: “The period experienced a reversal of the trend that had been evident in financial markets since the announcement of the first vaccines for COVID-19 in November 2020. Growth, though still strong, was less than expected. The UK equity market which had been one of the best performers amongst global markets began to lag, and sectors and stocks previously leading the recovery also started to underperform on a relative basis and stocks that had done well earlier in the pandemic resumed their trend of outperformance.

“Our long-term track record for shareholders continues to outperform the benchmark across both portfolios over 3 years, 5 years and 10 years. Looking ahead, the Manager’s aim is to continue increasing exposure to UK equity trusts, especially those with a medium and smaller company bias, and also certain trusts with a decent exposure to Europe, funded by some reduction away from holdings with significant exposure to technology or high growth companies.”


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